Italy Inflation Rate Revised Up To 1.6% In February

Consumer prices in Italy rose 1.6 percent year-on-year in February of 2017 following a 1 percent increase in the previous month and slightly above preliminary estimates of 1.5 percent gain. It is the highest inflation rate since March of 2013, mainly driven by prices of food and transport.

Year-on-year, main upward pressure came from cost of food and non-alcoholic beverages (3.8 percent compared to 2.3 percent in January); transport (4.9 percent compared to 3.2 percent); restaurants and hotels (1.1 percent, the same pace as in January) and miscellaneous goods and services (1.1 percent compared to 0.9 percent). In addition, prices of housing and utilities were flat (from -0.5 percent in January).

Annual core inflation rate, which excludes energy and unprocessed food rose to 0.6 percent from 0.5 percent the previous month. Excluding only energy, the inflation went up to 1.3 percent from 0.8 percent in January.

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